4:00pm | The Long Beach Chamber of Commerce voted Thursday morning to accept the recommendation of its Government Affairs Committee to oppose Measure D.

The measure seeks to change the way an annual transfer of port revenue to City Hall is calculated and also seeks to transfer control of port-owned oil properties to City Hall. A presentation by port financial staff last week found that Measure D could shift more than $130 million in port revenue over the next five years to the control of City Hall.
  
In their ballot argument supporting Measure D, Mayor Bob Foster, City Auditor Laura Doud and Councilmember Gary DeLong describe the measure as an effort to provide “a more transparent, fair, and reliable funding method” for the city’s Tidelands Fund. 

If approved, Measure D would force the Port of Long Beach to turn over 5% of its gross earnings to City Hall, instead of the current 10% of annual profits. The difference is expected to be as much as several million dollars. A recent lbpost.com/Probolsky Research poll found that 36.6% of potential local voters oppose the measure, in contrast to 27.7% who support it (the rest are undecided).
  
In voting to oppose Measure D, the Chamber cited the potential impact such a shift of funds from port coffers to the Tidelands Fund might have on the port’s ability to develop and remain competitive, as well as the possible impact such a shifting of port revenue may have on the port’s exceptionally high bond ratings. The Chamber is expected to issue a written explanation of its opposition to Measure D by Friday.
  
The Chamber joins a large number of business groups that have opposed the measure. Last week, a coalition including the Los Angeles Customs Brokers and Freight Forwarders Association, the LA/LB Propeller Club, the Pacific Merchant Shipping Association, the Harbor Association of Industry and Commerce, FuturePorts, and the California Marine and Intermodal Transportation System Advisory Council, or CALMITSAC announced their opposition to Measure D. Members of the various groups represent nearly all the major stakeholders in the Southern California shipping industry.
  
A recent study of Measure D by the California State Lands Commission–the state watchdog over local port authorities–found that Measure D did not, on its face, violate state law. However, the commission was highly critical of the way the measure was put forward without an economic analysis.
  
“The City has a fiduciary duty, as the State’s trustee, to balance competing public trust needs and to carefully consider any potential impacts to Port operations that any change to the City Charter may have,” said the study. “Commission staff is unaware of any evidence that the City Council analyzed and considered any potential impacts to Port operations when it voted to place [Measure D] on the November ballot.”

Disclosure: lbpost.com publisher Shaun Lumachi is a government affairs advisor to the Long Beach Area Chamber of Commerce